British Steel subsidiary finds buyer

British Steel’s TSP Projects has been bought by international transport consultancy Systra, saving hundreds of jobs. The deal will double Systra’s presence in the UK, with TSP Projects’ extensive experience of civils, electrification and track works complementing its existing UK rail engineering services. TSP has annual turnover of £35m and employs more than 400 people at fives offices in York, Birmingham, Bristol, Manchester and Reading. The deal includes over £70m of pension liabilities, and has no impact on continuing talks regarding the rest of British Steel, after it was pushed into compulsory liquidation in May.

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